F 125
- 6
11.
In recent years, the 13 CSOBS have embarked on a
number of measures to facilitate the upgrading and
diversification of their activities in Hong Kong.
12.
First, on the technological front, there has
been the computerisation of banking business in 1980 and
the introduction of automatic teller machines in 1984;
both aimed at improving the relative competitiveness of the 13 CSOBS vis-à-vis other banks in Hong Kong. Probably
as a result of having benefited from this experience, the
Bank of China Group in association with Joint Electronic
Teller Services Ltd. (JETCO) and NCR (Hong Kong) Ltd.
introduced automatic teller -machines for-Yuan (Renminbi)
transactions in Shenzhen Special Economic Zone in February
1986, with a view to extending the new service to other
Special Economic Zones in due course.
13.
Second, although the number of licensed CSOBS in
Hong Kong has remained unchanged at 13, they have
substantially enlarged their retail banking network, with
a view to widening the catchment area of
customer-deposits. As a result, the total number of
branches operated by these banks rose from 61 in 1971 to
241 in 1985, representing an average annual growth rate of
about 10%. Since the late 1970's, the Bank of China Group
has thus overtaken the Standard Chartered Bank to become
the second largest banking Group in Hong Kong, second only
to the Hongkong Bank Group (Tables 5 and 6).
14.
Third, in 1979-80, the 13 CSOBS joined the race
to form deposit-taking companies and merchant banks along with other local and foreign banks, to take advantage of the then booming financial services sector in llong Kong,
as well as to promote diversification of their financial
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